DOCSLIB.ORG

Annual Report and Accounts 2019 Accounts and Report Annual

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report and Accounts 2019 Accounts and Report Annual Associated British Foods plc Annual Report and Accounts 2019 ANNUAL REPORT AND ACCOUNTS 2019 Grocery Contents Strategic report 1 Financial headlines 2 Our businesses at a glance Read more 4 Chairman’s statement page 12 6 Chief Executive’s statement 8 Group business model and strategy 10 Key performance indicators 12 Operating review 12 Grocery Sugar 22 Sugar 30 Agriculture 34 Ingredients 40 Retail 50 Financial review 53 Responsibility 62 Principal risks and uncertainties 67 Viability statement Governance Read more 68 Board of directors page 22 70 Corporate governance 83 Remuneration report 107 Directors’ report 110 Statement of directors’ responsibilities Agriculture 111 I ndependent auditor’s report Financial statements 119 Consolidated income statement 120 Consolidated statement of comprehensive income 121 Consolidated balance sheet 122 Consolidated cash flow statement 123 Consolidated statement of changes in equity 124 Significant accounting policies Read more 131 Accounting estimates page 30 and judgements 132 Notes forming part of the financial statements 176 Company financial statements Ingredients 183 Progress report 184 Company directory Read more page 34 Retail Read more page 00 Read more page 40 Well-loved ABOUT household brands ASSOCIATED 9/10 BRITISH UK households use FOODS our brands Our purpose is to provide safe, nutritious, affordable food and clothing that is great value for money. A leader in our markets Grocery Retail Our grocery brands occupy leading Primark is the largest clothing, positions in markets across the footwear and accessories globe. In the UK, nine out of ten retailer in the UK, and also has a households use our brands. significant store portfolio in ten European countries and in the US. Sugar AB Sugar is one of the largest sugar producers in the world. Illovo is the largest sugar producer in Africa and British Sugar is the sole processor of the UK sugar beet crop. Agriculture AB Agri is the UK’s largest agri-food company and a leader in nutrition, science and technological innovation in animal feed. Ingredients Our Ingredients business is a leader in yeast, bakery ingredients and specialty ingredients for the food, feed and pharmaceutical industries. Read more page 2 Acting responsibly A global presence Respecting everyone’s dignity 52 countries operated Acting with integrity in worldwide Progressing through collaboration Pursuing with rigour Read more about our values and how we make a difference in our 2019 Responsibility Report www.abf.co.uk/responsibility An entrepreneurial spirit 138,000 people worldwide Read more about our people www.abf.co.uk/responsibility Strategic report Associated British FINANCIAL Foods is a diversified HEADLINES international food, ingredients and retail group with sales of £15.8bn, 138,000 employees and Group revenue operations in 52 £15.8bn countries across Actual +2% Europe, southern Constant currency: +2% Africa, the Americas, Adjusted operating profit Adjusted profit before tax Asia and Australia. £1,421m £1,406m Actual +1% Up 2% Constant currency: +1% Adjusted earnings per share Dividends per share 137.5p 46.35p Up 2% Up 3% Gross investment Net cash £837m £936m Operating profit Profit before tax £1,282m £1,173m Down 5% Down 8% Basic earnings per share 111.1p Down 13% Review of the year online: www.abf.co.uk/ar2019 Adjusted operating profit is stated before the amortisation of non-operating intangibles, profits less losses on disposal of non-current assets, transaction costs, amortisation of acquired inventory fair value adjustments and exceptional items. These items, together with profits less losses on the sale and closure of businesses, are excluded from adjusted profit before tax and adjusted earnings per share. References to operating profit in the Operating review are based on this adjusted operating profit measure. Constant currency figures are derived by translating the 2018 results at 2019 average exchange rates, except for countries where consumer price inflation has escalated to extreme levels, in which case actual rates are used. References to underlying profit for Twinings Ovaltine and Grocery exclude a £12m charge in 2019 in respect of the closure of the Twinings tea factory in Jinqiao, China. Annual Report and Accounts 2019 Associated British Foods plc 1 Our businesses at a glance A DIVERSE GROUP OF BUSINESSES Revenue Twinings and Ovaltine The Americas Grocery Twinings and Ovaltine are our leading In the US, Mazola is the leader in corn oil 100 £3,521m global hot beverage brands enjoyed in and we sell a range of baking brands Twinings and Ovaltine over 100 countries. through retail and foodservice channels. 2018: £3,420m Capullo is a premium canola oil in Mexico. Household food enjoyed in over 100 countries Europe and international Our portfolio includes Mazzetti Australia brands enjoyed all Adjusted operating profit balsamic vinegars, Jordans and Dorset Ham, bacon and smallgoods under the over the world cereals, Ryvita, Kingsmill, Patak’s and Don and KRC brands. Tip Top Bakeries 16,000 £380m Blue Dragon, Silver Spoon and produce a range of well-known breads employees 2018: £335m Billington’s sugars. and baked goods. Yumi’s produces hommus, vegetable dips and snacks. Read more page 12 Revenue Europe Southern Africa Sugar Our UK beet sugar factories typically Illovo is Africa’s largest sugar producer 24 £1,608m produce well over 1 million tonnes of with agricultural and production facilities plants worldwide sugar annually. Azucarera in Spain in six countries. Typical annual sugar A world-leading 2018: £1,730m produces beet sugar from three factories production is 1.7 million tonnes. and also refines sugar from cane raws. China sugar business Adjusted operating profit We operate two beet sugar factories focused on excellence in the north east of China, with annual 34,000 £26m sugar production capacity of over employees 2018: £123m 180,000 tonnes. Read more page 22 Revenue AB Agri It supplies compound animal feed, feed Agriculture AB Agri produces animal feed, nutrition- enzymes, specialised feed ingredients 65 £1,385m and technology-based products and and a range of value-add services to services for the agri-food industry. It farmers, feed and food manufacturers, countries worldwide 2018: £1,350m Products and services operates all along the food, drink and processors and retailers. It also buys biofuel industry supply chains. grain from farmers and supplies crop for the agri-food Adjusted operating profit inputs through its joint venture arable industry 3,000 £42m operation, Frontier Agriculture. employees 2018: £59m Read more page 30 Revenue Yeast and bakery ingredients Specialty ingredients Ingredients AB Mauri operates globally in yeast and ABF Ingredients produces value-added 52 £1,515m bakery ingredients production, supplying products and services for food and plants in production industrial and artisanal bakers and the non-food applications. 2018: £1,459m foodservice and wholesale channels. It is Yeast, bakery and for AB Mauri It manufactures and markets enzymes, a technology leader in bread improvers, specialty lipids, yeast extracts, extruded dough conditioners and bakery mixes. specialty ingredients Adjusted operating profit ingredients, pharmaceutical excipients supplied globally and antacids worldwide with 7,000 £136m manufacturing facilities in Europe, employees 2018: £143m America and India. Read more page 34 Revenue Primark Buying and merchandising teams in Primark is a major retail group operating Dublin (Republic of Ireland) travel Retail 373 £7,792m stores in the UK, Republic of Ireland, internationally to source and buy fashion stores Spain, Portugal, Germany, the items that best reflect each season’s key 2018: £7,477m Netherlands, Belgium, Austria, France, fashion trends. Primark’s range includes Quality fashion Italy, Slovenia and the US. womenswear, lingerie, childrenswear, menswear, footwear, accessories, at value-for-money Adjusted operating profit It offers customers quality, up-to-the- hosiery, beauty and homeware. prices 78,000 £913m minute fashion at value-for-money prices. employees 2018: £843m Read more page 40 2 Associated British Foods plc Annual Report and Accounts 2019 Strategic report Revenue Twinings and Ovaltine The Americas Grocery Twinings and Ovaltine are our leading In the US, Mazola is the leader in corn oil 100 £3,521m global hot beverage brands enjoyed in and we sell a range of baking brands Twinings and Ovaltine over 100 countries. through retail and foodservice channels. 2018: £3,420m Capullo is a premium canola oil in Mexico. Household food enjoyed in over 100 countries Europe and international Our portfolio includes Mazzetti Australia brands enjoyed all Adjusted operating profit balsamic vinegars, Jordans and Dorset Ham, bacon and smallgoods under the over the world cereals, Ryvita, Kingsmill, Patak’s and Don and KRC brands. Tip Top Bakeries 16,000 £380m Blue Dragon, Silver Spoon and produce a range of well-known breads employees 2018: £335m Billington’s sugars. and baked goods. Yumi’s produces hommus, vegetable dips and snacks. Read more page 12 Revenue Europe Southern Africa Sugar Our UK beet sugar factories typically Illovo is Africa’s largest sugar producer 24 £1,608m produce well over 1 million tonnes of with agricultural and production facilities plants worldwide sugar annually. Azucarera in Spain in six countries. Typical annual sugar A world-leading 2018: £1,730m produces beet sugar from three factories production is 1.7 million tonnes. and also refines sugar from cane raws. China sugar business Adjusted operating profit We operate two beet sugar factories focused on excellence in the north east of China, with annual 34,000 £26m sugar production capacity of over employees 2018: £123m 180,000 tonnes. Read more page 22 Revenue AB Agri It supplies compound animal feed, feed Agriculture AB Agri produces animal feed, nutrition- enzymes, specialised feed ingredients 65 £1,385m and technology-based products and and a range of value-add services to services for the agri-food industry. It farmers, feed and food manufacturers, countries worldwide 2018: £1,350m Products and services operates all along the food, drink and processors and retailers.
Load more

Recommended publications
  • Legislative Assembly Hansard 1971
    Queensland Parliamentary Debates [Hansard] Legislative Assembly THURSDAY, 2 SEPTEMBER 1971 Electronic reproduction of original hardcopy Matters of Public Interest [2 SEPTEMBER 1971] Q1iestions Upon Notice 337 THURSDAY, 2 SEPTEMBER 1971 Mr. SPEAKER (Hon. D. E. Nicholson, Murrumba) read prayers and took the chair at 11 a.m. PAPERS The following papers were laid on the table:- Order in Council under the Medical Act 1939-1969 Regulations under- Ambulance Services Act 1967-1970. The Hospitals Acts, 1936 to 1967. QUESTIONS UPON NOTICE MEAT EXPORTS AND IMPORTS Mr. Houston, pursuant to notice, asked The Minister for Primary Industries,- What quantities of (a) beef, (b) veal, (c) mutton, (d) lamb and (e) pigmeats, were (i) exported from and (ii) imported into Queensland during 1970-71? Answer:- "Information from the Commonwealth Statistician indicates the following quanti­ ties exported overseas from Queensland during 1970-71 :-Beef-fresh, chilled and frozen, 354,708,831 lb.; Veal-fresh, chilled and frozen, 6,633,080 lb.; Mutton -fresh, chilled and frozen, 19,434,521 338 Questions Upon Notice (2 SEPTEMBER 1971] Questions Upon Notice lb.; Lamb-fresh, chilled and frozen. King George Square, urging that a hoard­ 589,997 lb.; Pigrneats-fresh, chilled and ing, extending the length of the project, frozen, 822,036 lb. These figures are be erected to ensure the continued safety subject to revision. Imports from overseas of the public using the Square as the sources are negligible. Information on project progresses and will the Brisbane interstate imports and exports is not yet City Council, which has been notified on available." numerous occasions of this situation, not permit the erection of such a hoarding? SHORT-WEIGIIT BREAD (2) What is the actual situation and Mr.
    [Show full text]
  • 20021 Food Number and Item GI 2 Serve GL 3 Glucose S
    REVISED INTERNATIONAL TABLE OF GLYCEMIC INDEX (GI) AND GLYCEMIC LOAD (GL)—20021 Food Number and Item GI 2 Serve GL 3 glucose size per =100 grams serve BAKERY PRODUCTS Cakes 1 Angel food cake (Loblaw's, Toronto, Canada) 67 50 19 2 Banana cake, made with sugar 47±8 80 18 3 Banana cake, made without sugar 55±10 80 16 Chocolate cake made from packet mix with chocolate frosting (Betty Crocker, General 4 38±3 111 20 Mills Inc., Minneapolis, MN, USA) Cupcake, strawberry-iced (Squiggles, Farmland, Grocery Holdings, Tooronga, Vic, 5 73±12 38 19 Australia) Lamingtons (sponge dipped in chocolate and coconut) (Farmland, Grocery Holdings, 6 87±17 50 25 Australia) 7 Pound cake (Sara Lee Canada, Bramalea, Canada) 54 53 15 8 Sponge cake, plain 46±6 63 17 9 Vanilla cake made from packet mix with vanilla frosting (Betty Crocker, USA) 42±4 111 24 10 Croissant (Food City, Toronto, Canada) 67 57 17 11 Crumpet (Dempster's Corporate Foods Ltd., Etobicoke, Canada) 69 50 13 12 Doughnut, cake type (Loblaw's, Canada) 76 47 17 13 Flan cake (Weston's Bakery, Toronto, Canada) 65 70 31 14 Muffins Apple, made with sugar4 44±6 60 13 Apple, made without sugar4 48±10 60 9 Apple, oat, sultana, made from packet mix (Defiance Milling Co., Acacia Ridge, Qld, 54±4 50 14 Australia) Apricot, coconut and honey, made from packet mix (Defiance Milling Co., Australia) 60±4 50 16 Banana, oat and honey, made from packet mix (Defiance Milling Co., Australia) 65±11 50 17 Bran (Culinar Inc., Grandma Martin's Muffins, Aurora, Canada) 60 57 15 Blueberry (Culinar Inc., Canada) 59 57 17 Carrot (Culinar Inc., Canada) 62 57 20 Chocolate butterscotch, made from packet mix (Defiance Milling Co., Australia) 53±5 50 15 Corn muffin, low-amylose5 102 57 30 Corn muffin, high-amylose5 49 Oatmeal, muffin, made from mix (Quaker Oats Co.
    [Show full text]
  • Annual Report 2008–09
    Annual Report 2008–09 reducing the incidence and impact of cancer in the act for over 40 years The Australian Capital Territory (ACT) Working in the Australian Capital Territory to reduce the incidence and impact of cancer Cancer Council ACT Cancer Council ACT (the Council) is a non PROGRAMS AND SERVICES government, not-for-profit community organisation that aims to promote a Cancer Information Service healthier community by reducing the >> information on all aspects of cancer incidence and impact of cancer in the ACT >> Cancer Council Helpline 13 11 20 region. The Council depends largely on free publications and lending library the generosity of the ACT and surrounding >> community providing donations and Cancer Prevention and Early Detection Program supporting fundraising initiatives. >> promotes cancer prevention behaviours and participation in appropriate early detection programs Memberships >> Smoking Cessation and Prevention Service – Quitline 13 7848 Cancer Council ACT, together with other member organisations in each state and – quit smoking courses and seminars territory, is a member of Cancer Council – The ACT Vulnerable Youth: Reducing Chronic Disease Risk Factors Project Australia. Through this membership >> SunSmart services the Council is a member of the Asian – National SunSmart Schools and SunSmart Early Childhood Program and Pacific Federation of Organisations for Cancer Research and Control; the – SunSmart workplace information sessions International Non-Governmental Coalition – Cancer Council ACT Shop Against Tobacco; and the International >> health promotion booths and information displays Union For Health Promotion and Education. Supportive Care Service Cancer Council ACT is also a member of >> facilitated support groups for people affected by cancer the International Union against Cancer (UICC).
    [Show full text]
  • Cathy Pharoah Catherine Walker
    DIRECTORY OF SOCIAL CHANGE The Values of Corporate Giving An overview of models with case studies Cathy Pharoah Catherine Walker January 2015 DIRECTORY OF SOCIAL CHANGE Preface This paper is one of two complementary reports setting out the results of new research on corporate community support. One looks at how companies seek to embody different kinds of values, in different ways, when they develop their voluntary and community sector giving programmes. The other, in the context of current interest in developing ‘big data’ to increase our insights into various market sectors, reviews and updates the state of data on corporate giving, and its potential for links with other kinds of data on companies. The research programme was funded by ESRC Research Grant Ref. ES/F034113/1. The two-paper set consists of: The Values of Corporate Giving: An overview of models with case studies by Catherine Walker, Cathy Pharoah and Meta Zimmeck, a joint CGAP-Directory of Social Change (DSC) paper, which explores through a set of case-studies the ways in which company giving today variously expresses company values. The Values of Corporate Giving: An update on key figures and trends by Meta Zimmeck and Cathy Pharoah, CGAP@Cass, which reviews the nature of methodologies used in research on corporate giving and concludes that the diverse and fragmented nature of the approaches to this topic presents a barrier to developing a coherent understanding and the scope for ‘bigger’ data. In this context, it also provides an overview of the research on motivation and values of corporate giving in companies, with an update of trends in the annual amount given.
    [Show full text]
  • The Largest Family Businesses in the UK (Pdf)
    THE LARGEST FAMILY BUSINESSES IN THE UK RepGraph 2020 THE IFB RESEARCH FOUNDATION The IFB Research Foundation is a charity (no. 1134085) established to foster greater knowledge and understanding of family firms and their contribution to the economy and society, as well as the key challenges and opportunities that they face. The Foundation’s vision is to be the UK’s centre of excellence for family business research, and to this end its publications are designed to create a better understanding of family business for the benefit of all stakeholders. Alongside Family Business Research and White Papers, providing thought leadership on key family business characteristics and issues, its work covers a broad range of publications, including: • Family Business Sector Report – benchmarking the size and importance of the sector. • Family Business Challenges – offering practical guidance for family business owners on a broad range of topics, including family business dynamics, governance, performance, succession and wealth management. • Family Business Case Studies – showcasing family business exemplars. The Foundation disseminates knowledge and best practice guidance through printed publications, online media accessible via the IFB website and other activities. ifb.org.uk/ifb-research-foundation THE INSTITUTE FOR FAMILY BUSINESS The Foundation is independent of, but works closely with the Institute for Family Business (IFB), the not-for-profit UK family business organisation. With over 200 family business members, the IFB is also part of a global network of 4,000+ connected family companies (the Family Business Network international). Founded by a group of family business owners, the IFB has been supporting and championing family business since 2001.
    [Show full text]
  • Associated British Foods
    WorldReginfo - 4aa9e961-7187-463d-853b-cdef76c17115 - WorldReginfo Annual Report and Accounts 2017 A VERY PRODUCTIVE YEAR Associated British Foods plc Annual Report and Accounts 2017 CONTENTS STRATEGIC REPORT Associated British Foods is a diversified IFC Financial headlines 02 Our businesses at a glance international food, ingredients and retail 04 Chairman’s statement group with sales of £15.4bn, 133,000 06 Chief Executive’s statement 08 Group business model employees and operations in 50 countries and strategy 10 Key performance indicators across Europe, southern Africa, the 12 Business strategies 14 Operating review Americas, Asia and Australia. 14 Grocery 22 Sugar Our purpose is to provide safe, nutritious, 30 Agriculture 36 Ingredients affordable food and clothing that is great 40 Retail 48 Financial review value for money. 50 Corporate responsibility 54 Principal risks and uncertainties 59 Viability statement FINANCIAL HEADLINES Group revenue Adjusted operating profit GOVERNANCE 60 Board of directors £15.4bn £1,363m 62 Corporate governance 75 Remuneration report Actual: +15% Constant currency: +6% Actual: +22% Constant currency: +13% 94 Directors’ report Adjusted profit before tax Adjusted earnings per share 98 Statement of directors’ responsibilities 99 Independent auditor’s report £1,310m 127.1p Up 22% Up 20% FINANCIAL STATEMENTS Dividends per share Gross investment 107 Consolidated income statement 108 Consolidated statement of comprehensive income 109 Consolidated balance sheet 41.0p £945m 110 Consolidated cash flow statement
    [Show full text]
  • Merger Announcement - M/15/036
    MERGER ANNOUNCEMENT - M/15/036 Competition and Consumer Protection Commission clears proposed acquisition by Fitzwilliam Finance Partners Limited and Wittington Investments Limited of Arnotts Holdings Limited 26/08/2015 On 21 August 2015, the Competition and Consumer Protection Commission cleared the proposed transaction whereby Fitzwilliam Finance Partners Limited and Wittington Investments Limited would acquire Arnotts Holdings Limited (“Arnotts Group”). The proposed transaction was notified under the Competition Act 2002, as amended, on 13 July 2015. The proposed transaction will ultimately result in Wittington Canada having sole control of the “Arnotts” store and building in Dublin city centre and Fitzwilliam having sole control of the remaining assets in the Arnotts Group (which include the “Boyers” store in Dublin city centre and other properties in the area). The Commission has formed the view that the proposed transaction will not substantially lessen competition in any market for goods or services in the State. The Commission will publish the reasons for its determination on its website no later than 60 working days after the date of the Determination and after allowing the parties the opportunity to request that confidential information be removed from the published version. Additional Information Arnotts is a multi-category retailer with a mix of own-label and branded products. It operates two stores in Dublin city centre under the names Arnotts and Boyers and provides online retailing through its website. Arnotts also operates a car park beside its outlet on Henry Street in Dublin city centre and it owns a number of rental properties surrounding its Henry Street outlet. Wittington Canada is the holding company for the Weston Group, Wittington Properties and the Selfridges Group: • The Weston Group owns a number of public and private entities, including George Weston Limited, in North America.
    [Show full text]
  • The Home of Business Intelligence
    an informa business MarketLine Strategy, SWOT and Corporate Finance Report Associated British Foods plc London Stock Exchange (ABF) December 2014 REFERENCE CODE: D886F8BC-2D7F-4694-9934-DE660A3D64CB PUBLICATION DATE: December 2014 WWW.MARKETLINE.COM MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED COMPANY SNAPSHOT COMPANY SNAPSHOT Reference Code : D886F8BC-2D7F-4694-9934-DE660A3D64CB Publication Date: December 2014 Associated British Foods plc Fax: 44 20 7399 6580 Weston Centre Phone: 44 20 7399 6500 10 Grosvenor Street Website: www.abf.co.uk London W1K 4QY Industry: Consumer Packaged Goods United Kingdom Overview Associated British Foods (ABF or 'the group') is a diversified food, ingredients and retail group. The group operates in Europe, Africa, Australia, the Americas and Asia. It is headquartered in London, the UK and employed about 112,652 people, on an average, for the year ending September 2013. The group recorded revenues of £13,315 million (approximately $20,796.7 million) in the financial year ended September 2013 (FY2013), an increase of 8.7% over FY2012. The operating profit of the group was £1,093 million (approximately $1,707.2 million) in FY2013, an increase of 25.2% over FY2012. The net profit was £591 million (approximately $923.1 million) in FY2013, an increase of 6.5% over FY2012. SWOT Strengths Weaknesses Diversified set of businesses insulates the group from Dependence on the UK market business-specific risks Primark brand in the value retail space Focus on sustainability Opportunities Threats Growth potential in the bio-fuels market Intense competition Growing preference of customers to shop online Increasing labor cost in the US and the UK Positive trends in the global industrial enzymes market Key Employees Employee Name Job Title Board George Weston Chief Executive Officer Executive Board John G.
    [Show full text]
  • Glycemic Index
    Diabetic Serving Serving Available Glycemic Glycemic Carb Size in Size in Carbs / Food Product Description Index Load Choices Grams Ounces Serving BAKERY PRODUCTS Cakes Angel food cake (Loblaw's, Toronto, Canada) 67 19.4 1.9 50 1.76 29 Banana cake, made with sugar 47±8 17.9 2.5 80 2.82 38 Banana cake, made without sugar 55±10 16.0 1.9 80 2.82 29 Chocolate cake made from packet mix with chocolate frosting (Betty Crocker, General Mills Inc., Minneapolis, MN, USA) 38±3 19.8 3.5 111 3.91 52 Cupcake, strawberry-iced (Squiggles, Farmland, Grocery Holdings, Tooronga, Vic, Australia) 73±12 19.0 1.7 38 1.34 26 Lamingtons (sponge dipped in chocolate and coconut) (Farmland, Grocery Holdings, Australia) 87±17 25.2 1.9 50 1.76 29 Pound cake (Sara Lee Canada, Bramalea, Canada) 54 15.1 1.9 53 1.87 28 Sponge cake, plain 46±6 16.6 2.4 63 2.22 36 Vanilla cake made from packet mix with vanilla frosting (Betty Crocker, USA) 42±4 24.2 3.9 111 3.91 58 Croissant (Food City, Toronto, Canada) 67 17.5 1.7 57 2.01 26 Crumpet (Dempster's Corporate Foods Ltd., Etobicoke, Canada) 69 13.1 1.3 50 1.76 19 Doughnut, cake type (Loblaw's, Canada) 76 17.4 1.5 47 1.66 23 Flan cake (Weston's Bakery, Toronto, Canada) 65 31.2 3.2 70 2.47 48 Muffins Apple, made with sugar4 44±6 12.8 1.9 60 2.12 29 Apple, made without sugar4 48±10 9.0 1.3 60 2.12 19 Apple, oat, sultana, made from packet mix (Defiance Milling Co., Acacia Ridge, Qld, Australia) 54±4 14.0 1.7 50 1.76 26 Apricot, coconut and honey, made from packet mix (Defiance Milling Co., Australia) 60±4 15.6 1.7 50 1.76 26 Banana, oat and honey, made from packet mix (Defiance Milling Co., Australia) 65±11 16.9 1.7 50 1.76 26 Bran (Culinar Inc., Grandma Martin's Muffins, Aurora, Canada) 60 14.6 1.6 57 2.01 24 Blueberry (Culinar Inc., Canada) 59 17.3 1.9 57 2.01 29 Carrot (Culinar Inc., Canada) 62 20.1 2.1 57 2.01 32 Chocolate butterscotch, made from packet mix (Defiance Milling Co., Australia) 53±5 15.0 1.9 50 1.76 28 Corn muffin, low-amylose5 102 29.6 1.9 57 2.01 29 Corn muffin, high-amylose5 49 Oatmeal, muffin, made from mix (Quaker Oats Co.
    [Show full text]
  • ANNUAL REPORT and ACCOUNTS 2019 Grocery
    ANNUAL REPORT AND ACCOUNTS 2019 Grocery Contents Strategic report 1 Financial headlines 2 Our businesses at a glance Read more 4 Chairman’s statement page 12 6 Chief Executive’s statement 8 Group business model and strategy 10 Key performance indicators 12 Operating review 12 Grocery Sugar 22 Sugar 30 Agriculture 34 Ingredients 40 Retail 50 Financial review 53 Responsibility 62 Principal risks and uncertainties 67 Viability statement Governance Read more 68 Board of directors page 22 70 Corporate governance 83 Remuneration report 107 Directors’ report 110 Statement of directors’ responsibilities Agriculture 111 I ndependent auditor’s report Financial statements 119 Consolidated income statement 120 Consolidated statement of comprehensive income 121 Consolidated balance sheet 122 Consolidated cash flow statement 123 Consolidated statement of changes in equity 124 Significant accounting policies Read more 131 Accounting estimates page 30 and judgements 132 Notes forming part of the financial statements 176 Company financial statements Ingredients 183 Progress report 184 Company directory Read more page 34 Retail Read more page 00 Read more page 40 Well-loved ABOUT household brands ASSOCIATED 9/10 BRITISH UK households use FOODS our brands Our purpose is to provide safe, nutritious, affordable food and clothing that is great value for money. A leader in our markets Grocery Retail Our grocery brands occupy leading Primark is the largest clothing, positions in markets across the footwear and accessories globe. In the UK, nine out of ten retailer in the UK, and also has a households use our brands. significant store portfolio in ten European countries and in the US. Sugar AB Sugar is one of the largest sugar producers in the world.
    [Show full text]
  • 2020 Responsibility Update
    Responsibility Update 2020 Overview People Society and supply chains Environment Assurance statement 2 WELCOME to our Responsibility Update 2020 Our purpose has helped us get through a year like no other. At Associated British Foods, our purpose is to provide safe, nutritious, affordable food and clothing that offer great value for money. Contents 2020 has been an unprecedented year, and the personal cost associated with the COVID-19 outbreak 9 has been terrible. Our employees, customers, suppliers Overview2 Investing in our people Respecting41 the environment and communities were all put under enormous 3 A message from our Chairman 10 Health and safety 42 Climate change mitigation pressure by the pandemic and although some and Chief Executive 16 Diversity and inclusion and adaptation uncertainty remains, our group has proved to be strong 4 Making a positive contribution 19 Employee engagement 47 Natural resources and the and resilient. 5 Our breadth is one of our and development circular economy We’re incredibly proud of the flexibility, commitment greatest strengths 53 Biodiversity and healthy ecosystems and determination of our people, from our food 6 Staying true to what’s important businesses significantly increasing production to meet 7 Our approach: doing the right thing 57 Animal health and welfare unprecedented demand to our Retail division, where 8 Supporting global goals Supporting23 society and all Primark stores were forced to close. However, strengthening our supply chains together, we went above and beyond the call of duty 24 Human rights and labour rights Assurance58 statement to provide for our customers and mitigate the impacts 33 Healthy and safe products on our supply chains.
    [Show full text]
  • Final Assessment Report Proposal P295
    7-06 4 October 2006 FINAL ASSESSMENT REPORT PROPOSAL P295 CONSIDERATION OF MANDATORY FORTIFICATION WITH FOLIC ACID Attachments 8, 9, 10 and 12 Contents ATTACHMENT 8 - EVALUATION OF THE HEALTH RISK FROM MANDATORY FOLIC ACID FORTIFICATION...................3 ATTACHMENT 9 - 9WALD MODEL: NTD RISK REDUCTION ACCORDING TO INCREMENTS OF FOLIC ACID INTAKE....9 ATTACHMENT 10 - FOOD TECHNOLOGY REPORT - FORTIFICATION OF BREAD WITH FOLIC ACID .........................14 ATTACHMENT 12 - DEVELOPMENT OF A BI-NATIONAL MONITORING SYSTEM TO TRACK THE IMPACT OF REGULATORY DECISIONS ON MANDATORY AND VOLUNTARY FORTIFICATION .......................................................45 2 Attachment 8 Evaluation of the health risk from mandatory folic acid fortification Introduction This document integrates the dietary intake assessment and the available information on the potential hazards associated with high intakes of folic acid, in order to give an understanding of the overall risks to public health and safety associated with folic acid fortification. 1. Implications of exceeding the upper level of intake (UL) Mandatory folic acid fortification of all bread at levels of 135 µg/100 g, could potentially lead to a small percentage of individuals exceeding the Upper Level of Intake (UL) for folic acid (Table 1). The proportion of Australian and New Zealand consumers exceeding the corresponding age-specific UL is shown in Table 2. As the dietary intake assessment was redone between Draft Assessment and Final Assessment to account for the change of food vehicle (from bread-making flour to bread), any changes in exceedances above the UL have been noted. 1.1 Young children If mandatory fortification of bread with folic acid at a level of 135 µg/100 g were introduced, it is estimated that a small proportion of young children may exceed the UL – up to 7% of 2-3 year olds and 3% of 4-8 year olds.
    [Show full text]